NEW DELHI, July 27: The Central Government has approved the Reserve Bank of India’s (RBI) proposal to conduct a pilot field trial of polymer (plastic) currency notes in the ₹10 and ₹20 denominations. Under the pilot project, 100 crore polymer notes of each denomination will be issued for testing. A decision on large-scale circulation will … Read more
Mumbai, 01 January (Udaipur Kiran) – Nearly 98.41 percent of the ₹2000 banknotes withdrawn from circulation have been returned to the Reserve Bank of India (RBI) so far. The central bank shared this update in a press release on Thursday. It stated that the decision to withdraw the ₹2000 notes was announced on 19 May … Read more
Reserve Bank of India (RBI) has launched two new websites and mobile applications. According to the central bank’s press release, the existing website will remain in place for some time and will operate in parallel with the new websites. The press release also mentions that “Reserve Bank of India’s new website and mobile app was … Read more
Mumbai : The Reserve Bank of India (RBI) is considering a new weapon in the fight against cybercrimes – the Digital Trust Agency of India (DIGITA). The proposed agency would address the increase in illegal loan applications by certifying legitimate loan applications and creating a public registry. DIGITA: A central hub for verification According to … Read more
Bank of India has reported results for second quarter ended September 30, 2022. The bank has reported fall of 8.66% in its net profit at Rs 960.00 crore for Q2FY23 as compared to Rs 1,050.98 crore for the corresponding quarter previous year. However, total income of the bank increased by 10.77% to Rs 12,914.72 crore … Read more
The Reserve Bank of India (RBI) has imposed a penalty of Rs 27.5 lakh on Punjab & Sind Bank for non-compliance with certain directions issued by it on ‘external benchmark-based lending’. A statutory examination of Punjab & Sind Bank revealed non-compliance with the directions, inter-alia, to the extent the bank linked certain floating rate retail … Read more
Reserve Bank of India (RBI) has imposed a penalty of Rs 2 crore on Allahabad Bank for non-compliance of directions / circulars issued by RBI on ‘Code of Conduct for Opening and Operating Current Accounts’, ‘Discounting / Rediscounting of Bills by Banks’, ‘Reserve Bank of India (Frauds classification and reporting by commercial Banks and select … Read more